AN increase in property transactions, sustained economic growth and ambitious plans coming to fruition were the messages that emerged from an event to launch a report into Derby's market for commercial buildings.

George Cowcher, chief executive of Derbyshire and Nottinghamshire Chamber of Commerce, told a crowd of property professionals that 2013 had seen four consecutive quarters of growth and that businesses had experienced a strong start to the new year.

Marketing Derby director John Forkin spoke about developments such as the Premier Inn, in Full Street, along with the long-awaited development of Duckworth Square and Infinity Park.

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From the Royal Society of Chartered Surveyors, senior economist Joshua Miller argued that, with new powers at its disposal, the Bank of England would never again let house-price inflation hit 10%.

Speaking at the event, at the University of Derby's Enterprise Centre, Innes England director Nick Hosking said: "It's not quite time to party in the streets, but there were some key deals that came forward in the second half of the year."

The transactions that drove the industrial market included the 10-year letting of a 632,000 sq ft warehouse to Kuehne and Nagel's drinks logistics operation.

Comments

Great news. I think with the economy improving commercial property investors will begin to diversify outside of London and many local economies will reap the benefits. Particularly in industrial areas, as the manufacturing industry shows encouraging signs of recovery.
Charli
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